RSMUS.comFor companies using NetSuite, the idea of enabling MultiBook Accounting can sound like an elegant solution to complex reporting requirements. While the functionality is relatively simple to configure, it carries significant operational implications—especially for finance teams responsible for maintaining parallel books. Understanding when and how to implement MultiBook is crucial to avoiding unnecessary overhead and aligning the system with real-world needs.
Balancing Functionality and Effort
From a technical perspective, deploying MultiBook is straightforward. However, the ongoing effort required to support it is highly dependent on which features are in use—Advanced Revenue Management (ARM), Fixed Assets, and prepaid amortization schedules require especially careful setup and maintenance.
That’s why when working with clients, the first step should always be the same: understand the specific use cases and business requirements that need to be addressed through implementation of parallel books. In many cases, we can achieve the desired reporting outcomes without full MultiBook deployment. When MultiBook is the right tool, we help clients proceed with eyes wide open, fully understanding the operational lift they’re committing to.
Common Use Cases for MultiBook in NetSuite
- ASC 605 to ASC 606 Conversions
During the ASC 606 adoption period (2017–2019), companies often used MultiBook to meet comparative reporting requirements. This allowed for complex revenue calculations under both standards—particularly important for public companies or those undergoing audits.
- Alternate Revenue Standards
Some businesses require revenue calculations under different standards, such as management reporting rules or statutory accounting. Though less common—since IFRS 15 and ASC 606 are closely aligned for revenue recognition standards—MultiBook can provide a clean solution when needed.
- GAAP vs. Local Statutory with Functional Currency = Parent Subsidiary Currency
If a subsidiary has a functional currency other than the local currency, MultiBook allows one ledger to remain in the functional currency (for US GAAP reporting) while the other reflects the local currency. This is often critical for producing local GAAP reporting and VAT/GST reporting is also typically required to be produced in the local currency.
- GAAP vs. Local Statutory with Functional Currency = Local Currency
Adjustment Books match the currency of the primary book and provide a streamlined way to record GAAP-to-STAT adjustments without maintaining an entirely separate ledger.
- Purchase Accounting
Adjustment Books also work well for acquisitions. By bringing in financial history that predates the acquisition, companies can maintain “continuing financials” in a separate ledger without impacting GAAP reporting in the primary book.
NetSuite MultiBook Deployment Options: A Comparison Guide
| Deployment Type | Ease of Setup | Deployment Steps | Ongoing Considerations |
| I. Adjustment Book | Very simple | • Load delta journal entries (GAAP-to-STAT) • No processing of existing transactions |
Minimal maintenance; create book specific impacts through book specific journal entries |
| II. Full MultiBook (New Subsidiary or new NetSuite implementation) | Simple | • Configure before transaction history • Load and close historicals in both books • Set up parallel schedules (revenue, amortization, etc.) |
Book-specific processes needed going forward. Transactions generated from schedules will require processing in each accounting book (e.g. revenue recognition, depreciation etc) |
| III. Full MultiBook (Existing Subsidiary) | Complex | • Enable in pending state • Run Historical Transaction Processing (HTP) • Create book-specific revenue arrangements • Rebuild prepaid/amortization • Convert fixed assets • Run revaluations & eliminations • Reconcile & close historical periods |
High setup effort; ongoing dual-book processing required. Transactions generated from schedules will require processing in each accounting book (e.g. revenue recognition, depreciation etc) |
Final Thoughts
MultiBook Accounting is a powerful tool, but it should be used intentionally. A clear understanding of your business requirements—and the operational implications of maintaining two sets of books—will ensure a successful deployment.
Before diving in, ask:
Can the need be met with reporting workarounds or Adjustment Books? Are the benefits worth the long-term effort?
If the answer is yes, MultiBook can deliver the flexibility and compliance your business needs across jurisdictions and standards.
Carolyn Southern
Carolyn Southern, Director of Business Applications at RSM, spearheads global NetSuite deployments for professional services, technology and private equity-backed ventures. Supporting clients in over 50 countries, Carolyn has extensive experience guiding companies to scalable solutions for corporate and statutory accounting and specializes in advising clients on global rollout and localization strategies.